Instant Gold Loan through SBI “YONO” app

SBI customers face the problem of standing in long Queues for availing the services as they have huge customer-count. To reduce crowd’s in the bank premises, SBI appoints Customer Service Points(CSP’s), along with e-banking applications. SBI “YONO” app is one of them.

SBI “YONO”- The one-stop solution to your Banking needs

SBI Yono allows to withdraw cash without a debit card at ATM Terminals, easy processing of loan proceeds without visiting the branch. To encourage “Digital Payments” SBI offers rebate on loan disbursements making YONO a rewarding app to the customers.

Recent amendment to use YONO app

SBI has noticed several frauds, mis-representations in utilizing Yono app. So SBI made it mandatory to use Yono only through customers authorised mobile numbers registered with the banks. For this, the customer have to do one-time registration process to verify their mobile number with the bank. After verification and successful registration, customer can use Yono app only through “Customer’s Mobile Sim”. Kindly note this, hereon.

How to avail Loan through Yono app?

  1. Log-on through your SBI app.
  2. On Home-Page you will find a 3 dot menu option at the top-left corner of the app.
  3. Select from “Loan Options” in the drop-box and select the loan option you wish to apply.
  4. Click on “Apply Now” and get instant loan approval.

Documents Required to avail Loan

  1. Application Form
  2. Identity Proof or Address Proof of the customer
  3. 2 Passport Photos

Who are Eligible?

Adults having good source of income and have completed KYC formalities with the bank are eligible to take loan.

Process of availing Loan after applying through Yono app?

Visit your Bank branch with the above requirements(2 Pass-port Photos, Identity Proof and application Form)By signing on the application form in the presence of bank officials, you are eligible to avail Loan.

Availing “Gold Loan” through YONO; an added feature

1.Now SBI offers gold loan up to 20,000(Minimum) and 50 Lakh Rupees through Yono

2. Applicant should be 18 Years and above

3. Register the weight of the gold to be pledged and Click on “Apply” Button

4.Visit the bank branch with the KYC documents and gold ornaments

5.Fill the application form and submit it along with 2 Pass-Port Photos.

Added Features to avail Gold Loan through Yono app

  1. Generally the tenure for gold loan would be 1 year, but if you apply through Yono app you are entitled to repay the loan within 36 months(3 Years)

2. Interest rate applicable would be 7.5%; much lower than any other loan

3. There is no pre-payment charges if you repay the loan before the tenure. For example- If you take gold loan for 3 Years, if you wish to repay the gold loan before the tenure, they would be no pre-payment charges.

As Indians prefer Gold as safe-haven and it can be used as security to pledge, in case of emergency , Gold loan details are discussed in detail.

Likewise, you can apply for any other loan(as per your eligibility)through SBI Yono app and avail instant loan approvals.

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